Modular Fuel Cells:

Resilient Carbon Cutter Today; Stepping Stone to

Carbon Neutrality Tomorrow

Steve Almeida JrDirector Fuel Cells & CHPAris Energy Solutions May, 2020

Market PenetrationResidential & Small –

Medium Business Entreprises

Market Leader in Europe and now

introduction to U.S./The Americas

Scalability &Net Electric/ Overall

Efficiency Performance ofBlueGEN Unit

Observed PathwaysCost Curve Reductions

SOLIDpower – Company Overview2

• 30 Million operating hours

• 1,500 installations, • 10y service contract• CE certification in Europe,

CSA in process for US

• Worldwide Record efficiency : 62%• 60% NET AC, delivered onsite, 85% in CHP

mode.• Single system availability >98% • Historic durability record broken by SP material

system (70,000 hours)• Unit at $1.05/therm yields $0.0597/kWh net

electrical output

• 1.5 kW commercialized• 6-12-25 kW modules in

preparation

• >50 utility customers

• Microgrid and Virtual power plant demonstrated.

• Increasing volume yielding favorable pricing mechanisms

• Federal Investment Tax Credit & Bonus Depreciation significantly reducing investment

• Regional State/ Utility incentives establishing aggressive ROIs

• RD&D plan enabling Private/Public Partnerships via CostSharing – COGEN Europe as template

Partners in US Commercialization

BlueGen European History:• 1,500 mCHP BlueGen systems deployed

• 30 Million operating hours

• 10 year stack durability and O/M contracts

• Ongoing growth in the European “PACE” program (100’s of new units per year with substantial cost reduction over volume)

BlueGen United States Launch:• Aris Energy is integrator/distributor of

SolidPower fuel cells

• Early US users include progressive commercial and research end users

• Electric and Gas Utility Partnerships in Development, starting with National Grid mCHP pilot

• ~50% carbon/kw-hr reduction in most grids today, more reduction via H2 substitution

BlueGen History: Mature/Growing in Europe, Launching in US

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1.5 kW (now) and 6 kW (in development)

Current EU/US BlueGEN version (1.5 kW)

BlueGEN US version (1.5 kW)

BlueGEN US version(6 kW)

23.6"

43.3" 47.2" 63.0"

19.7" 23.6"

41.3"

29.5"23,6"

Scalable Offerings

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The Quad offers economy in installation and soft costs

The 6kW Quad (4 x 1.5kW)

BlueGen QUAD Layout

7' - 6"

20 in

8' -0"

BlueGen Box Diagram

Air Inlet Exhaust Out

Natural Gas 6 kW (AC) Electrical Output

(low pressure)

34,000 BTU/hr (~34 Cu Ft/hr)

Cold Water

Hot Water (+8000 BTU/hr)

BlueGen Quad System

A new data centre architecture:

Distributed generation inside the Data Center6

Generation Transmission UPSBack-up generators

Power distribution

Efficency to data center(≈18%)

Input(100%)

Efficiency to data center(≈60%)

Spanning the Size Range to Multi-MW Data Centers

The Microsoft Vision

Microsoft fuel cell story• Chose fuel cells as key data center

energy solution• After ~4 years vetting, MS selected

SOLIDpower fuel cell technology• Commercial partner motivated by

decreased cost from increased demand/volume from other sectors

• See profile on Forbes at https://www.linkedin.com/feed/update/urn:li:activity:6480882589212168192

• And Microsoft video at https://www.youtube.com/watch?v=8eLdL0CGeek

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Stack run time [hours]

BlueGen v6

Technology Decision Factors: Efficiency, Reliability, Load Following, Cost vs Volume

High efficiency , constant kW output, minimal degradation over time sets the foundation for performance and economics

Installation Examples8

Spanning the Size Range – Residential, Multi-Family,

Small-Medium Businesses and Targeted Loads!

A New Appliance

BlueGEN is ideal for installing in commercial and industrial buildings, workshops and mid-sized and large residential buildings.

The BlueGEN has a hydraulic connection to the heating system via a hot waterstorage tank and as a result it can be combined with nearly any heating system. Theappliance is designed as auxiliary equipment, meaning it can be installed at anytime.

For Gas/Electric Utilities:

• Providing Safe/Reliable Power, mitigating outages w/ Resiliency potential

• Behind The Meter(BTM)clean tech fosteringCarbon Neutrality

• Controllable Dispatch –reducing Grid Strain

• Establish new Utility revenue models

• Environmental, Social & Governance influence on new Energy Paradigm

BlueGEN Product Platform9

Key Features❑ kW to MW modular, power density in small

footprint

❑ Highest electrical efficiency (as validated by BNL)

❑ CHP mode – Heat recuperation: 85% total efficiency

❑ Internal/Externally deployed, simple installation(equivalent to a gas boiler)

❑ Carbon Neutrality / Electrification pathway

❑ Renewable Energy Technology – operates on 100% Hydrogen or percentage injection to Gas Pipeline

platform 55-61%

38%

25%

Key Features and Input/Outputs

US Power grid

Inputs/Outputs❑ Electricity source / load

❑ Gas ( 0.13 - 0.35 psi)

❑ Water (mains pressure)

❑ Drain

❑ Combined air intake and exhaust

❑ Internet

❑ Heat recovery (Optional)

Installation Examples10

Heat Recovery Circuit – for US Certification/Listing

LEGEND

1 Thermosiphon Break Valve

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Flow restrictor / Flow meter

Low Energy Pump

Fill Valve

2 Bar Pressure Relief Valve

Pressure Gauge

Air Bleed Valve

Double Walled Heat Exchanger

Expansion Vessel

Temperature Switch with Manual Reset (set to 160º F)

Temperature Switch (set to 150º F)

Radiator

3 Port Motorised Valve)

Temperature Switch (set to 150º F)

Installation Examples11

SolidPOWER SOFC Modular Fuel Cells

Resilient Carbon Cutter TODAY

• Operating on natural gas, can reduce carbon emissions (pounds/kw-hr) by as much as 55% TODAY vs benchmark 1.1 lb CO2/kw-hr grid.

• Operating on 15% blend of Hydrogen in natural gas (P2G), can reduce emissions by as much as 62% TODAY

• Optional feature for grid resiliency/microgrid

Stepping Stone to Carbon Neutrality TOMORROW

• Can operate on 100% hydrogen

• Can operate on renewable natural gas (RNG) or Bio-Gas

• The SolidPOWER fuel cell can be a regenerative (2-way) device, as a fuel cell from Hydrogen, or as an electrolzyer (SOEC) producing pure Hydrogen from a renewable electricity source

• The fuel cell is a “gas battery”, which is both competitive and complementary approach to other batteries/energy storage technologies

Multi-Site Demonstration Project NY: Potential Partners12

Utility, Academic/Research Institution Testing of Pre-listedUnits via Operational Safety & Energy Efficiency

Residential Multi-apartment Commercial-SME Grid-Scale & Data Center1.5 kW 10 kW 100 kW 1 MW Multi-MW

Utility Campaign -ConED, National Grid & SoCalGas

Academic/Research Institutions – UCONN, Brookhaven National Labs, UCAL/Irvine, NETL, others

Via Government Agencies, Utilities, Aggregators, ESCOS, Utility Implementation Contractors

Proposed RD&D demonstration program to US DoE, Aris with industry Consortium Partners – in vol/cost reduction program emulating European “PACE” program

To Government End Users, Residential, Multi-Family, Developers, Property Managers, Small and Med Commercial, including Major Retailers, Restaurant/Hotels, Banks, Data Centers

US Multi-Market Rollout Plan

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Steve Almeida Jr.Aris Energy Solutions, LLC

Director of Fuel Cells & CHPFCHEA – Board Member

Email: salmeida@aris-re.comOffice: (914) 839-3257